All checklists Keyword: APPRAISAL
What happens when the appraisal comes in low
Your five options when the appraiser writes down a different number than your contract.
Offer & inspection · 12 points
Who it’s for
For the buyer under contract, waiting on the appraisal report.
What’s on the list
- 1
The lender orders the appraisal to protect their loan. It’s not there to tell you whether you like the place, or whether it’s a good buy.
- 2
Comes in at or above the contract price? Nothing changes. Keep moving.
- 3
Comes in under? The lender lends against the appraised value, not against your offer. That gap comes out of your pocket or it gets renegotiated.
9 more points to go
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This checklist is general educational information for South Florida and is not legal, tax, insurance or financial advice. Official figures are printed with their source; always verify them for your own situation with your attorney, accountant and lender. Jordan Padierne, Realtor — eXp Realty.
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